AXIS Capital (NYSE:AXS) Hits New 52-Week High – Here’s Why

AXIS Capital Holdings Limited (NYSE:AXS) shares hit a new 52-week high on Tuesday . The stock traded as high as $94.89 and last traded at $94.07, with a volume of 229751 shares traded. The stock had previously closed at $91.85.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. UBS Group boosted their price objective on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their price target on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.71.

AXIS Capital Trading Up 2.0 %

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.53 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94. The company has a 50-day moving average price of $85.99 and a 200 day moving average price of $78.47.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company posted $2.34 earnings per share. On average, research analysts forecast that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, December 31st. AXIS Capital’s payout ratio is currently 24.41%.

Institutional Investors Weigh In On AXIS Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of AXIS Capital by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider’s stock valued at $287,909,000 after buying an additional 152,914 shares during the period. AQR Capital Management LLC grew its position in AXIS Capital by 9.0% during the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock valued at $182,538,000 after buying an additional 213,559 shares during the period. State Street Corp increased its holdings in AXIS Capital by 7.2% in the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after buying an additional 112,536 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after acquiring an additional 318,784 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of AXIS Capital by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock valued at $100,144,000 after acquiring an additional 157,110 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.